Healthcare IT Market Research Report – Forecast to 2027

Healthcare IT Market Research Report: By Products and Services (Healthcare Provider Solutions, Healthcare Payer Solutions) Component (Services, Software) End-User (Healthcare Providers, Healthcare Payers, Research Centers)- Forecast Till 2027

ID: MRFR/HCIT/4494-HCR | February 2021 | Region: Global | 120 pages

Impact of Covid-19 Outbreak on Healthcare IT Market


Healthcare IT has attained the position that it has been wanting to for a long time due to COVID-19. Remote monitoring, AI-powered assessment apps and devices, and telehealth platforms have all become a new norm.


Before the start of COVID-19, healthcare IT remained just a concept. As per a study showed in the US alone, 82% of consumers did not use such services due to the lack of improper infrastructure and awareness. Additionally, its reliability and effectiveness were also questioned.


However, with the spread of coronavirus, healthcare institutions and regulatory bodies had to turn to alternative ways of providing healthcare while limiting exposure to the virus. Various organizations and institutes, such as The Academy of Family Physicians and the American Medical Association (AMA), released related guidelines in support of promoting Healthcare IT or digital healthcare. For instance, AMA stated that Medicare administered by the Centers for Medicare & Medicaid Services (CMS) would temporarily pay clinicians to provide telehealth services for beneficiaries residing across the entire country. Additionally, the Trump Administration and the Department of Health and Human Services (HHS) also waived off potential HIPAA penalties for good faith use of telehealth during the emergency.


Healthcare IT not just helps to curb the spread of the virus by limiting exposure but also helps reduce the inevitable burden that virus outbreaks can place on an already stretched health service. There is a shortage in the number of physicians and hospital beds. Here healthcare IT comes as a savior in reducing unwanted physical contact.
contact


Source: World Bank, WHO, and MRFR Analysis


The UK government is a prime example of adopting digital health strategies to control the spread of the virus. The government partnered with Ada Health, a company that produces a symptom checker app. This company produced an app that screens explicitly for coronavirus and had a strong focus on the UK and Germany.


Another digital strategy by the UK is from Orion Health, which is offering its outbreak management solution to reduce pressure on acute services. The system helps in identifying and managing patients with symptoms of coronavirus and reducing the need for hundreds of phone consults.


On the same lines, the Singapore government launched the app TraceTogether on March 20, 2020. TraceTogether detects other users of the app who are in proximity. It can then be used to identify close contacts based on the proximity and duration of an encounter between the two users that must have come in contact with the virus.


This COVID-19 pandemic has posed various challenges to the global healthcare community, and for these challenges, digital health systems serve as well suited solutions to this public health emergency. These include the development of robust surveillance systems, wider penetration of wearables for tracking of physiological parameters, telehealth, novel diagnostic and clinical decision-making tools, and development of interactive chat services for public dissemination of COVID-19 related information.


Healthcare IT will experience tremendous growth and adoption in the future due to its benefits, such as accessibility and functionality. Additionally, the relaxation of regulations is also likely to boost the market growth.

TABLE OF CONTENT

Chapter 1. Report Prologue

Chapter 2. Healthcare IT Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Healthcare IT Market Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Healthcare IT Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Technology Trends & Assessment

Chapter 5. Healthcare IT Market Factor Analysis

5.1 Porter’s Five Forces Analysis

5.1.1 Bargaining Power of Suppliers

5.1.2 Bargaining Power of Buyers

5.1.3 Threat of New Entrants

5.1.4 Threat of Substitutes

5.1.5 Intensity of Rivalry

5.2 Value Chain Analysis

5.3 Investment Feasibility Analysis

5.4 Pricing Analysis

Chapter 6. Healthcare IT Market, by Product & Services

6.1 Introduction

6.2 Healthcare Provider Solutions

6.2.1 Market Estimates & Forecast, 2020–2027

6.2.2 Clinical Solutions

6.2.2.1 Electronic Health Records/Electronic Medical Records Systems

6.2.2.2 Picture Archiving and Communication Systems and Vendor Neutral

Archive Systems

6.2.2.3 Computerized Physician Order Entry Systems

6.2.2.4 Clinical Decision Support Systems

6.2.2.5 e-Prescribing Solutions

6.2.2.6 Radiology Information Systems

6.2.2.7 Radiation Dose Management

6.2.2.8 Specialty Management Information Systems

6.2.2.9 Medical Image Analysis Systems

6.2.2.10 Population Health Management Solutions

6.2.2.11 Patient Registry Software

6.2.2.12 Healthcare IT Integration Systems

6.2.2.13 Practice Management Systems

6.2.2.14 Laboratory Information Systems

6.2.2.15 Mobile Health Applications

6.2.2.16 Telehealth Solutions

6.2.2.17 Infection Surveillance Solutions

6.2.3 Nonclinical Healthcare IT Solutions

6.2.3.1 Pharmacy Information Systems

6.2.3.2 Medication Management Systems

6.2.3.2.1 Electronic Medication Administration Software

6.2.3.2.2 Barcode Medication Administration

6.2.3.2.3 Medication Inventory Management Systems

6.2.3.2.4 Medication Assurance Systems

6.2.3.3 Healthcare Asset Management Software

6.2.3.4 Workforce Management Systems (WFM)

6.2.3.5 Revenue Cycle Management Solutions

6.2.3.6 Medical Document Management Solutions

6.2.3.7 Financial Management Systems

6.2.3.8 Healthcare Information Exchange (HIE)

6.2.3.9 Supply Chain Management Solutions

6.2.3.9.1 Procurement Management Solutions

6.2.3.9.2 Inventory Management

6.2.3.10 Healthcare Analytics

6.2.3.10.1 Clinical Analytics

6.2.3.10.2 Financial Analytics

6.2.3.10.3 Operational and Administrative Analytics

6.2.3.11 Customer Relationship Management (CRM)

6.2.4 Healthcare Payer Solutions

6.2.4.1 Pharmacy Audit and Analysis Systems

6.2.4.2 Pharmacy Audit and Analysis Systems

6.2.4.3 Analytics and Fraud Management Solutions

6.2.4.4 Member Eligibility Management Solutions

6.2.4.5 Provider Network Management Solutions

6.2.4.6 Billing and Accounts (Payment) Management Solutions

6.2.4.7 Customer Relationship Management Solutions

6.2.4.8 Population Health Management Solutions

6.2.4.9 Other Payer Solutions

6.2.5 HCIT Outsourcing Services

6.2.5.1 Provider HCIT Outsourcing Services Market

6.2.5.1.1 EMR/Medical Document Management Services

6.2.5.1.2 Pharmacy Information Management Services

6.2.5.1.3 Laboratory Information Management Services

6.2.5.1.4 Revenue Cycle Management Services

6.2.5.1.5 Other Provider Outsourcing Services

6.2.5.2 Payer IT Outsourcing Services

6.2.5.2.1 Claims Management Services

6.2.5.2.2 Integrated Front-End Services and Back-Office Operations

6.2.5.2.3 Member Management Services

6.2.5.2.4 Provider Network Management Services

6.2.5.2.5 Billing and Accounts Management Services

6.2.5.2.6 Analytics and Fraud Management Services

6.2.5.2.7 HR Services

6.2.5.3 Operational IT Outsourcing Services

6.2.5.3.1 Business Process Management Services

6.2.5.3.2 Supply Chain Management Services

6.2.5.3.3 Other Operational It Outsourcing Services

6.2.5.4 IT Infrastructure Management Services

6.2.5.4.1 Market Estimates & Forecast, 2020–2027

Chapter 7. Healthcare IT Market, by Component

7.1 Introduction

7.2 Services

7.2.1 Market Estimates & Forecast, 2020–2027

7.3 Software

7.3.1 Market Estimates & Forecast, 2020–2027

7.4 Hardware

7.4.1 Market Estimates & Forecast, 2020–2027

Chapter 8. Healthcare IT Market, by End-User

8.1 Introduction

8.2 Healthcare Providers

8.2.1 Hospitals

8.2.2 Ambulatory Care Centers

8.2.3 Home Healthcare Agencies, Nursing Homes, and Assisted Living Facilities

8.2.4 Diagnostic and Imaging Centers

8.2.5 Pharmacies

8.3 Healthcare Payers

8.3.1 Private Payers

8.3.2 Public Payers

8.4 Research Centers

8.4.1 Market Estimates & Forecast, 2020–2027

8.5 Third Party Administrators

8.5.1 Market Estimates & Forecast, 2020–2027

8.6 Government Institutions

8.6.1 Market Estimates & Forecast, 2020–2027

8.7 Others

Chapter 9. Healthcare IT Market, by Region

9.1 Introduction

9.2 Americas

9.2.1 North America

9.2.1.1 U.S.

9.2.1.1 Canada

9.2.2 South America

9.3 Europe

9.3.1 Western Europe

9.3.1.1 Germany

9.3.1.2 France

9.3.1.3 Italy

9.3.1.4 Spain

9.3.1.5 U.K.

9.3.1.6 Rest of Western Europe

9.3.2 Eastern Europe

9.4 Asia Pacific

9.4.1 Japan

9.4.2 China

9.4.3 India

9.4.4 Australia

9.4.5 Republic of Korea

9.4.6 Rest of Asia Pacific

9.5 The Middle East & Africa

9.5.1 The Middle East

9.5.2 Africa

Chapter 10. Healthcare IT Market Company Landscape

10.1 Introduction

10.2 Market Share Analysis

10.3 Key Development & Strategies

Chapter 11. Healthcare IT Market Company Profiles

11.1 McKesson Corporation

11.1.1 Company Overview

11.1.2 Product Overview

11.1.3 Financials

11.1.4 SWOT Analysis

11.2 Epic Systems Corporation

11.2.1 Company Overview

11.2.2 Product Overview

11.2.3 Financial Overview

11.2.4 Key Developments

11.2.5 SWOT Analysis

11.3 Cerner Corporation

11.3.1 Company Overview

11.3.2 Product Overview

11.3.3 Financial Overview

11.3.4 Key Development

11.3.5 SWOT Analysis

11.4 GE Healthcare

11.4.1 Company Overview

11.4.2 Product/Business Segment Overview

11.4.3 Financial Overview

11.4.4 Key Development

11.4.5 SWOT Analysis

11.5 Philips Healthcare

11.5.1 Company Overview

11.5.2 Product Overview

11.5.3 Financial overview

11.5.4 Key Developments

11.6 Athenahealth, Inc.

11.6.1 Company Overview

11.6.2 Product Overview

11.6.3 Financial Overview

11.6.4 Key Developments

11.7 Allscripts Healthcare Solutions, Inc.

11.7.1 Overview

11.7.2 Product Overview

11.7.3 Financials

11.7.4 Key Developments

11.7.5 SWOT Analysis

11.8 Oracle Corporation

11.8.1 Company Overview

11.8.2 Product/Business Segment Overview

11.8.3 Financial Overview

11.8.4 Key Development

11.8.5 SWOT Analysis

11.9 Cognizant Technology Solutions Corporation

11.9.1 Company Overview

11.9.2 Product Overview

11.9.3 Financial overview

11.9.4 Key Developments

11.10 Dell Technologies

11.11.1 Company Overview

11.11.2 Product Overview

11.11.3 Financial overview

11.11.4 Key Developments

11.11 Infor, Inc.

11.11.1 Company Overview

11.11.2 Product Overview

11.11.3 Financial overview

11.11.4 Key Developments

11.12 Others

Chapter 12. Healthcare IT MarketMRFR Conclusion

12.1 Key Findings

12.1.1 From CEO’s View Point

12.1.2 Unmet Needs of the Market

12.2 Key Companies to Watch

12.3 Prediction of the IT Industry

Chapter 13 Appendix

LIST OF TABLES

Table 1 Healthcare IT Industry Synopsis, 2020–2027

Table 2 Healthcare IT Market Estimates & Forecast, 2020–2027, (USD Million)

Table 3 Healthcare IT Market, by Region, 2020–2027, (USD Million)

Table 4 Healthcare IT Market, by Product & Services, 2020–2027, (USD Million)

Table 5 Healthcare IT Market, by Component, 2020–2027, (USD Million)

Table 6 Healthcare IT Market, by End-User, 2020–2027, (USD Million)

Table 7 North America Healthcare IT Market, by Product & Services, 2020–2027, (USD Million)

Table 8 North America Healthcare IT Market, by Component, 2020–2027, (USD Million)

Table 9 North America Healthcare IT Market, by End-User, 2020–2027, (USD Million)

Table 10 U.S. Healthcare IT Market, by Product & Services, 2020–2027, (USD Million)

Table 11 U.S. Healthcare IT Market, by Component, 2020–2027, (USD Million)

Table 12 U.S. Healthcare IT Market, by End-User, 2020–2027, (USD Million)

Table 13 Canada Healthcare IT Market, by Product & Services, 2020–2027, (USD Million)

Table 14 Canada Healthcare IT Market, by Component, 2020–2027, (USD Million)

Table 15 Canada Healthcare IT Market, by End-User, 2020–2027, (USD Million)

Table 16 South America Healthcare IT Market, by Product & Services, 2020–2027, (USD Million)

Table 17 South America Healthcare IT Market, by Component, 2020–2027, (USD Million)

Table 18 South America Healthcare IT Market, by End-User, 2020–2027, (USD Million)

Table 19 Europe Healthcare IT Market, by Product & Services, 2020–2027, (USD Million)

Table 20 Europe Healthcare IT Market, by Component, 2020–2027, (USD Million)

Table 21 Europe Healthcare IT Market, by End-User, 2020–2027, (USD Million)

Table 22 Western Europe Healthcare IT Market, by Product & Services, 2020–2027, (USD Million)

Table 23 Western Europe Healthcare IT Market, by Component, 2020–2027, (USD Million)

Table 24 Western Europe Healthcare IT Market, by End-User, 2020–2027, (USD Million)

Table 25 Eastern Europe Healthcare IT Market, by Product & Services, 2020–2027, (USD Million)

Table 26 Eastern Europe Healthcare IT Market, by Component, 2020–2027, (USD Million)

Table 27 Eastern Europe Healthcare IT Market, by End-User, 2020–2027, (USD Million)

Table 28 Asia Pacific Healthcare IT Market, by Product & Services, 2020–2027, (USD Million)

Table 29 Asia Pacific Healthcare IT Market, by Component, 2020–2027, (USD Million)

Table 30 Asia Pacific Healthcare IT Market, by End-User, 2020–2027, (USD Million)

Table 31 The Middle East & Africa Healthcare IT Market, by Product & Services, 2020–2027, (USD Million)

Table 32 The Middle East & Africa Healthcare IT Market, by Component, 2020–2027, (USD Million)

Table 34 The Middle East & Africa Healthcare IT Market, by End-User, 2020–2027, (USD Million)

LIST OF FIGURES

Figure 1 Research Process

Figure 2 Segmentation for Healthcare IT Market

Figure 3 Segmentation Market Dynamics for Healthcare IT Market

Figure 4 Global Healthcare IT Market Share, by Product & Services 2020

Figure 5 Global Healthcare IT Market Share, by Component 2020

Figure 6 Global Healthcare IT Market Share, by End-User 2020

Figure 7 Global Healthcare IT Market Share, by Region, 2020

Figure 8 Americas Healthcare IT Market Share, by Country, 2020

Figure 9 Europe Healthcare IT Market Share, by Country, 2020

Figure 10 Asia Pacific Healthcare IT Market Share, by Country, 2020

Figure 11 Middle East & Africa Healthcare IT Market Share, by Country, 2020

Figure 12 Global Healthcare IT Market: Company Share Analysis, 2020 (%)

Figure 13 McKesson Corporation: Key Financials

Figure 14 McKesson Corporation: Segmental Revenue

Figure 15 McKesson Corporation: Geographical Revenue

Figure 16 Epic Systems Corporation: Key Financials

Figure 17 Epic Systems Corporation: Segmental Revenue

Figure 18 Epic Systems Corporation: Geographical Revenue

Figure 19 Cerner Corporation: Key Financials

Figure 20 Cerner Corporation: Segmental Revenue

Figure 21 Cerner Corporation: Geographical Revenue

Figure 22 GE Healthcare: Key Financials

Figure 23 GE Healthcare: Segmental Revenue

Figure 24 GE Healthcare: Geographical Revenue

Figure 25 Philips Healthcare: Key Financials

Figure 26 Philips Healthcare: Segmental Revenue

Figure 27 Philips Healthcare: Geographical Revenue

Figure 28 Athenahealth, Inc.: Key Financials

Figure 29 Athenahealth, Inc.: Segmental Revenue

Figure 30 Athenahealth, Inc.: Geographical Revenue

Figure 31 Allscripts Healthcare Solutions, Inc.: Key Financials

Figure 32 Allscripts Healthcare Solutions, Inc.: Segmental Revenue

Figure 33 Allscripts Healthcare Solutions, Inc.: Geographical Revenue

Figure 34 Oracle Corporation: Key Financials

Figure 35 Oracle Corporation: Segmental Revenue

Figure 36 Oracle Corporation: Geographical Revenue